The GBP/USD pair rose during the session on Friday, shooting strength through the resistance of the 1.6650 level. The market even close at the very high of the day, so it appears that any pullback in the short-term charts should be a nice buying opportunity now. That being the case, we feel that buyers will continue to step into the market every time it pulls back because everybody can see how bullish it suddenly is, and inflation numbers out of the United Kingdom continue to expand. We believe that ultimately this market heads to the 1.70 level.
